G-8 to hold talks for tackling Financial Crisis

Author: Pushpak Srivastava

Countries that make up G-8, Germany, Japan, United States, Britain, Italy, Russia, Canada and France are to hold a meeting in near future. This would be to devise measures to handle the chaos occurring on the Financial front. The meet is most likely to take place in November. Among the recommenders of the meeting were Angela Merkel, the German Chancellor and Nicolar Sarkozy, French President.

British prime Minister, Gordon Brown emphasized that not only the developed nations be discussed in it, but also the emerging economies like China and India be given a thought. The leaders echoed that they all stood united to boost up the confidence of financial institutions and bring the countries out of this tough time.
	The meet aims at both correcting the current shortcomings and formulating strategies so as to avert any similar happening again, ever. The root cause of the present troubles is thought to be the investments in U.S. as subprime mortgages. So, steps to not let it repeat itself are to be framed in the discussion. G-8 is an international forum for the Governments of the mentioned countries. The members hold meetings every year to have talks on various issues that are of global nature and have a similar impact.